TODAY newspaper to cease print edition, go fully digital

SINGAPORE: Mediacorp has entered into an agreement with Singapore Press Holdings (SPH) to buy its minority shareholdings in Mediacorp’s entertainment television and newspaper businesses, both companies announced in a joint news release on Friday (Aug 25). The purchase, valued at S$18 million, will involve Mediacorp buying SPH’s 20 per cent stake in Mediacorp TV Holdings, which owns Channels 5, 8 and U and Mediacorp Studios; and 40 per cent stake in Mediacorp Press, which operates TODAY newspaper. The deal, signed on Friday, is subject to regulatory approval and scheduled for the end of September 2017. Once completed, both entities will become wholly owned subsidiaries of Mediacorp. The agreement comes 12 years after SPH purchased the stakes as part of a media industry asset consolidation in 2005. During the consolidation, SPH transferred a TV channel to Mediacorp and took ...